The Public Debt Management Bill

Below is The Public Debt Management Bill that was brought to the Senate on November 30, 2012.

Under the Debt Management Bill, the Minister of Finance is mandated to impose ceilings on government guarantees. The bill states that the minister must exercise prudent management to ensure that a government-guaranteed debt-to-GDP ratio of below three per cent at the end of financial year 2026-27.

The government-guaranteed debt-to-GDP ratio now stands at 11.2 per cent, and the bill says it should be below five per cent at the end of financial year 2021-22.